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Goldentex loss widens

Goldentex loss widens

ArabFinance: Golden Textiles and Clothes Wool (Goldentex) reported a 62% Year on Year increase in its consolidated net loss in the first nine months of 2020, according to the company’s November 11th financial statements filed to the Egyptian Exchange.

Consolidated net loss before minority interest stood at EGP 27,689,269 in the January-September period of 2020, compared to EGP 17,077,744 incurred in the prior-year period.

Standalone net loss reached EGP 27,379,781 in the January-September period of 2020, a 64% increase from EGP 16,664,162 incurred in the corresponding period a year earlier.

Goldentex is an Egypt-based company engaged in the manufacture of textile products. The company is involved in the processing and dyeing of wool, woolen blended synthetic fiber, and industrial yarn.  

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